Check Out our CPI REPORT !!! for the month of December

1. ©PearlMutual Consulting Ltd 2016
December 2017 CPI Update
Year-end high!!!
Nigeria’s consumer price index continued its
southwards trajectory for the eleventh
consecutive time. It declined substantially by
53bps from 15.90% in November to 15.37% in
December. According to National Bureau of
Statistics, increases were recorded in all
Classification of Individual Consumption by
Purpose (COICOP) division that yield the
headline index.
This sustained reduction can be attributed to the
slight decrease in food prices and relative
stability in foreign exchange market.
Source: PearlMutual Analytics
Minty Flavors
In the month of December 2017, all MINT countries
except Nigeria and Turkey witnessed increases
in their respective inflation rates. Turkey’s CPI
reached an all-time low, posting 11.92% (-
138bps) in November attaining the lowest CPI
since May 2001. This has been attributed to
decreasing prices of food, transport and clothing.
On the other hand, the headline index for
Mexico climbed to 6.8% (+10bps) in December.
This is due to changes in monetary policies.
Similarly, Indonesia’s inflation rate rose
substantially to 3.6% (+30bps) in December. This
increase is caused by slow rise in processed food,
electricity and fuel.
MINT members are likely to experience
increasing pressures on general price levels
unless respective governments take appropriate
measures to reverse the trend.
Source: PearlMutual Analytics
Inflation Outlook for Nigeria
We expect inflation rate to decline due to
availability of forex. However, increase in oil
prices can result in higher FAAC disbursement
and increased liquidity in system.
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MINTTREND
Mexico Indonesia Nigeria Turkey

2. ©PearlMutual Consulting Ltd 2016
Analysts
Onwuelingo Anthony.T
Anthony.onwuelingo@pearlmutual.com
Sunday Udoh.
sunday.udoh @pearlmutual.com
Olufunmi Adepoju, CFA
olufunmi.adepoju@pearlmutual.com
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